Azad Engineering inks pact with Mitsubishi Heavy Industries

Azad Engineering announced that it has entered into a new long-term contract and price agreement with Mitsubishi Heavy Industries (MHI), Japan, valued at $73.47 million (Rs 651 crore).

The contract covers the supply of highly engineered and complex rotating and stationary airfoils for advanced gas and thermal power turbine engines to meet MHI?s global demand in the power generation sector. This deal is incremental to a contract signed on 3 November 2024 and takes the combined value of contracts between the two companies to $156.36 million (Rs 1,387 crore). The agreement will be executed over five years.

Azad Engineering said it has no shareholding in MHI, and the deal does not involve related party transactions.

Azad Engineering is engaged in the manufacturing of precision forged and machined components for clean energy, aerospace, defense, oil and gas, and standalone power supply (SPS) as required by OEMs with its manufacturing unit in Hyderabad.

The company?s consolidated net profit surged 73.59% to Rs 29.72 crore on a 39.30% increase in revenue from operations to Rs 137.09 crore in Q1 FY26 over Q1 FY25.

Shares of Azad Engineering fell 4.13% to settle at Rs 1,556.95 on Friday, 26 September 2025.

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